Exact numbers are not always necessary; Approximation is used when exact numbers are not required and a general idea of quantity is sufficient  
Rounding Up:
Used when it is safer to have more than the actual amount
Example:
  • Ordering \(750\) sweets for \(732\) people.
  • If there are \(732\) people at a school event, the principal might order \(750\) sweets to ensure there is enough for everyone.
Rounding Down:
Used when a slightly lower estimate is sufficient for the context  
Example:
If an item costs \(₹470\), a shopkeeper might tell a customer it costs around \(₹450\) to simplify the price  
Nearest Neighbors:
Identifying the "nearest neighbor" involves rounding a number to its closest thousand, lakh, or crore to simplify calculations .
Example:
The nearest neighbours of the number \( 6,72,85,183 \) are shown in the table below.
 
Scale Nearest Neighbor
Nearest Thousand
 6,72,85,000  
 
 
Nearest Ten Thousand
 6,72,90,000  
 
 
Nearest Lakh
 6,73,00,000  
 
 
Nearest Ten Lakh
 6,70,00,000  
 
 
Nearest Crore
 7,00,00,000